Tag Archives: Mortgage Bankers Association (MBA)

Following a near-month-long 72-basis point rise, fixed-rate mortgages turned downward this week, signaling a potential reset in the housing market.

As fixed-rate mortgages crawl to the 6%-mark, mortgage application volume did rise slightly for the third consecutive week, but refinance volume trended in the opposite direction, falling 80% year-over-year.

Sales of new single‐family homes in May rose to 696,000, a 10.7% month-over-month rise of April’s recorded total of 629,000.

“The ongoing affordability hit of higher home prices and fast-rising mortgage rates led to a slowdown in purchase applications in May,” said Edward Seiler, the MBA's Associate VP.

The MBA reports that purchase activity was down 10% year-over-year, as inventory shortages and higher mortgage rates are dampening demand.

After nearly a month of declines in mortgage application volume, the MBA reported that apps rose 6.6% week-over-week, as the industry braces itself for the latest rate hike by the Fed.

As lending standards continue to tighten, mortgage credit supply fell to its lowest level since last July, according to the Mortgage Bankers Association.

The Federal Housing Finance Agency (FHFA) has released Fannie Mae's and Freddie Mac's (the GSEs) Equitable Housing Finance Plans for 2022-2024. These plans were designed to complement the ...

The MBA reports overall mortgage app volume slid 6.5% week-over-week, with buyers continuing to be shunned by a combo of high rates and prices, amid slowly rising inventory.

As builders continued to face rising costs, supply-chain issues, and extended completion times, the buying market has cooled amid high mortgage rates and lingering affordability concerns.